III International Chess Festival "President's Cup" dedicated to the memory of Heydar Aliev is being held in Baku, Azerbaijan from 9 to 21 May, 2008. The organizers of this event are Republican Chess Center (Club), Azerbaijan Chess Federation. The Festival consists of four tournaments: Children tournament 09-19 May, Open tournament 12-20 May, Seniors tournament 10-19 May and Blitz tournament 21 May. The total prize fund of the festival is $ 85000, for the 1st place the prize is 7000 USD + Cup.